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Blockchain

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

December 14, 2021 - Around 2 mins mins to read

The blockchain oracle market is still largely dominated by Chainlink, but there are a handful of promising challengers.

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

Oracle’s decentralized service, Umbrella Community, has launched a new accelerator for projects looking to build a data pipeline to the crypto market, a process that many in the industry believe is necessary in order to tackle the emerging areas of blockchain gaming, DeFi, and Metaverse to develop.

The $ 15 million accelerator program is set to fund companies that bring new data solutions to the blockchain ecosystem, the Umbrella Community said on Tuesday.

Sam Kim, a partner with the Umbrella Community, told Cointelegraph that his company is focused on funding projects in the areas of blockchain gaming, metaverse, digital advertising, blockchain-based identity, fitness, etc., sports and weather, etc.

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

To date, projects in this and other areas have relied largely on centralized systems to run critical computations, processes and applications due to the limitations of existing technology, Kim said. One of the goals of the accelerator is to provide access to decentralized data applications that can help emerging projects grow and scale their operations.

In addition to funding, the accelerator will provide business and technical support. Umbrella will also be the original operator of the decentralized Oracle, confirmed Kim.

God is on the blockchain to speak Play an important role in developing the website’s decentralized ecosystem by connecting 3. smart contracts to the outside world. In particular, Oracle’s blockchain-based applications offer the possibility of connecting to existing legacy systems and data sources. It is suggested that institutional investors, long recognized as key players in the future of blockchain, need reliable crypto market data before regulation can be applied.

Related: The former CEO of Google is now a strategic advisor to Chainlink Labs

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

Chainlink (hyperlink) is by far the largest Oracle network with a market capitalization of $ 8.4 billion. Augur (REP) and Band Protocol (BAND) took second and third places, respectively, with a total value of over $ 170 million each. As of this writing, Umbrella Community has a total market value of $ 19 million.

# Cryptocurrencies

Chainlink

Oracle

Umbrella

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Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Blockchain

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

The blockchain oracle market is still largely dominated by Chainlink, but there are a handful of promising challengers.

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

Oracle’s decentralized service, Umbrella Community, has launched a new accelerator for projects looking to build a data pipeline to the crypto market, a process that many in the industry believe is necessary in order to tackle the emerging areas of blockchain gaming, DeFi, and Metaverse to develop.

The $ 15 million accelerator program is set to fund companies that bring new data solutions to the blockchain ecosystem, the Umbrella Community said on Tuesday.

Sam Kim, a partner with the Umbrella Community, told Cointelegraph that his company is focused on funding projects in the areas of blockchain gaming, metaverse, digital advertising, blockchain-based identity, fitness, etc., sports and weather, etc.

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

To date, projects in this and other areas have relied largely on centralized systems to run critical computations, processes and applications due to the limitations of existing technology, Kim said. One of the goals of the accelerator is to provide access to decentralized data applications that can help emerging projects grow and scale their operations.

In addition to funding, the accelerator will provide business and technical support. Umbrella will also be the original operator of the decentralized Oracle, confirmed Kim.

God is on the blockchain to speak Play an important role in developing the website’s decentralized ecosystem by connecting 3. smart contracts to the outside world. In particular, Oracle’s blockchain-based applications offer the possibility of connecting to existing legacy systems and data sources. It is suggested that institutional investors, long recognized as key players in the future of blockchain, need reliable crypto market data before regulation can be applied.

Related: The former CEO of Google is now a strategic advisor to Chainlink Labs

Umbrella Network Launches Oracle Accelerator valued at $ 15 million

Chainlink (hyperlink) is by far the largest Oracle network with a market capitalization of $ 8.4 billion. Augur (REP) and Band Protocol (BAND) took second and third places, respectively, with a total value of over $ 170 million each. As of this writing, Umbrella Community has a total market value of $ 19 million.

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